Inflation Anxiety Erodes Small Business Optimism, NFIB Says

Inflation has sped up in the past several months, spurred by the highest tariffs since the 1930s and a sudden plunge in the supply of oil after the U.S. and Israel launched air strikes on Iran in late February.

Futures for Brent crude oil, the global benchmark, have surged by about 31 percent since the Feb. 28 start of the war, from $70 per barrel to $91.67 per barrel. In turn, the average price for a gallon of regular gasoline has soared from $2.91 to $4.16, an increase of 43 percent, according to AAA.

"Gas prices remain well above where they were before the conflict in the Middle East, and those costs don't stay at the pump; they move quickly through supply chains, vendor pricing and freight," said Mark Valentino, head of business banking at Citizens, said Tuesday in a note.

Please select this link to read the complete article from CFO Dive.